Question

what is barter system write it's disadvantage ​

Answer 1

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Answer 2

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Before evolution of money, goods were exchanged for goods, this system of exchange was known as barter system.

The major drawbacks of the barter system were:

(i) Lack of double coincidence of wants It was a major drawback of the barter system. It was very rare when the owner of some goods or services could find someone who wanted his goods or services and possessed that goods or services that the first person wanted. No exchange was possible, if the double coincidence of wants was not there.

(ii) Lack of common measure of value In barter system, there was absence of a common unit of measurement in which the value of goods and services can be measured. In the absence of common unit, proper valuation was not possible.